By Angela McDaniels
Tacoma, Wash., April 29 - Bank of Nova Scotia priced $519,000 of autocallable contingent interest barrier notes due April 29, 2017 linked to the common stock of Keurig Green Mountain Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate of 15% per year if the stock closes at or above the barrier price, 62.5% of the initial share price, on the valuation date for that quarter.
Beginning April 24, 2015, the notes will automatically be called at par plus the contingent coupon if the stock closes at or above the initial share price on any quarterly valuation date.
If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Scotia Capital (USA) Inc. is the underwriter.
| Issuer: | Bank of Nova Scotia
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stock: | Keurig Green Mountain Inc. (Nasdaq: GMCR)
|
| Amount: | $519,000
|
| Maturity: | April 29, 2017
|
| Coupon: | 15% per year, payable quarterly only if stock closes at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to barrier price, par plus contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | Beginning April 24, 2015, automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly valuation date
|
| Initial share price: | $94.09
|
| Barrier price: | $58.806, 62.5% of initial share price
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Underwriter: | Scotia Capital (USA) Inc.
|
| Fees: | 2.7414%
|
| Cusip: | 064159EQ5
|
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